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the edges. we should actually fix it so we don't have this big problem which everybody knows is coming. the virtual consensus among economists is that we will have a debt crisis comparable to what greases having today. we want to do something bold that fixes the country and this is that rare opportunity. >> what about the $4 trillion plan that lawmakers have been talking about this week? it does not sound like that would satisfy the criteria? >> we don't know what the $4 trillion is. we hear about that over so many years. we don't know any of the details. that may be part of the cuts and the cap as we go forward. we think you have to look at this away a normal american family would look at this. cuts in the short term and cuts to make sure we are doing a dump and on this problem and the cap means we go forward and don't exacerbate the problem in coming years and then the real fundamental process requiring the federal government to do what every family has to do and every business has to do, have a balanced budget. we think that makes the most sense. >> does that have to be part of this
here by not paying for and creating an awful lot of debt. not paying for two wars. not paying for big rates, big cuts to forma, medicaid. not paying for to act -- for tax cuts. the president found himself $10 trillion in hole in dealing with the worst recession since the great depression, as well as having to come up with money for a recovery. where did those moneys go? most of them went to help states and municipalities. many used that to stabilize states with a stimulus package that many, including myself, did not think was strong enough to sustain economic recovery. we saw it, no matter how fragile, with the small recovery that we had. one-third of the money of a $1 -- $9 billion package was utilized to help states and municipalities balance their budgets. one-third of the money, the largest tax cuts, went out in the history of the country. people did not really notice it. they started getting extra in their paycheck, but there was nothing in there that said -- this is a big tax cut for you. in one-third of it was used in infrastructure programs. not enough, in my estimation. cert
without as well. -- washington, d.c. as well. >> i want to talk about the big month coming up in iowa in august. there's a lot going on in the g.o.p. primary. can you handicap the race for us a little bit in iowa and specifically handicap the straw poll, as you see it now, a couple of weeks out? >> well, first of all, it's a very fluid situation. as you know, the last time romney won the poll but then the iowa caucuses was won by governor huckabee. since huckabee decided relatively late not to run, things are wide open. and romney is not competing in the straw poll. so, you know, the two -- romney is the national frontrunner but not competing in the straw poll. so you've got a wide open situation. congressman michelle bachmann was born and raised in iowa. i think she got off to a really good start here. governor pawlenty, the former governor of minnesota, although he's not done well in the polls, he may surprise some people i think he may do better than people expect. also, you got ron paul, who's going to be competitive in this. herman cane. rick santorum. just recently rick perry, a
it is not a big deal to read -- increased taxes during a recession. the democrats think the rich should have more a burden. we already have a progressive tax cause of the rich to pay more in taxes. if they want the rich to have more of a burden in trying to figure out how to correct the debt problem, one way we could do it which is a common ground is means testing on benefits. that would allow the rich to absorb more of a burden and would allow them to pay more for their medicare and i think this would please the democrats and it would be the compromise because republicans, most of us don't want to raise taxes but we would accept the risk having more of the burden by reducing their benefits. >> the tax code is pretty complicated. we keep hearing suggestions about delaying the decision making and doing a temporary measure. would you support a temporary fix to tackle the bigger subjects? >> i was part of a group this week that said no more, we are tired about talking about extraneous issues. there was not one minute of debate about the death still in any committee. we have not had a budget in two y
Search Results 0 to 5 of about 6 (some duplicates have been removed)